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I'm calling this query from coldfusion10.
I've already realized a solution utilizing coldFusion10 for this problem by replacing the select statement calling the query and storing the results in a coldFusion list variable, then iterate through a loop that inserts the contents of the CF list variable to its respective record, but this takes much more processing then a simple SQL statement. I've found solution like this:

You cannot mix the VALUES() and the SELECT methods of providing values for an INSERT - either you can provide literals and SQL variables for a VALUES(.....) list of values - or then you need to use the SELECT instead